Young, growing companies with potential to become medium-sized more important to economy than small businesses

By David CraneFeb. 11, 2019

They are on a growth trajectory. If we want middle-class jobs then the focus must be on growth companies, not small businesses just because they are small.

Small Business Minister Mary Ng once again declared that small businesses 'are the backbone of our nation’s economy,' but small businesses, while important, are not the backbone of the economy, no matter how many times politicians say they are, says David Crane. The Hill Times photograph by Andrew Meade

TORONTO—How often have you heard a politician proclaim that small businesses are the backbone of the economy? Probably often, because in each of our political parties there is a small-business fetish. Just last month, in a visit to Halifax, Small Business Minister Mary Ng once again declared that small businesses “are the backbone of our nation’s economy.”

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